Cataract Surgery Devices Market Overview:
Cataract Surgery Devices Market was valued at $7 billion in 2016, and is estimated to reach $9billion by 2023, growing at a CAGR of 4.3% during the forecast period of time. Cataract surgery devices are majorly used in surgical procedures which are focused on treating cataract, an eye disorder which clouds the lens, and, leads to problems in vision. Cataract is one among the most common diseases which leads to blindness, reducing vision ability. Cataract can be used to develop slowly and also affects either one or both the eyes. Cataract does not directly interfere with the eye-sight in it is early stages; nevertheless, it interferes with imagination and also leads blindness over the years. The signs of cataract are blurry vision, trouble with bright lights, faded colors, and also night blindness. Cataract surgery is one of the common ophthalmic methods; hence, potential for the growth of cataract surgery devices is unprecedented.
Increase in incidences of diseases such as diabetes, obesity, hypertension and also growth in geriatric population contributes to the growth of the market. Lack of skilled professionals is a major cause that would limit the market place growth during the forecast period of time. Considering the case, the governments and also non-profit companies around the world are launching programs to reduce the load of cataract-related diseases, which would offer tremendous opportunities for key market players.
Dependent on Type, the market report segments the market into Equipment
Consumables: The Consumables market dominated the Global Cataract Surgery Devices Market by Type in 2016 and would continue to be a dominant market place till 2023 and is anticipated to witness a CAGR of 3.5% while (2017 – 2023).
On the basis of product, the market place report segments the market into
Intraocular Lens (IOL), Ophthalmic Viscoelastic Device (OVD), Phacoemulsification Equipment: The Phacoemulsification Equipment market is predicted to witness a CAGR of 3.9% while (2017 – 2023).
According to End User, the market report segments the market into
Hospitals: The Hospitals market dominated the Global Cataract Surgery Devices Market by End User in 2016 and would continue to be a dominant market for 2023, rising at a CAGR of 3.4 % during the forecast period. Ophthalmology Clinics, Ambulatory Surgery Centers.
According to Regions, the Global Cataract Surgery Devices market segments the market into
North America (U.S, Canada, Mexico, Rest of North America), Europe (Germany, UK, France, Russia, Spain, Italy, Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Singapore, Malaysia, Rest of Asia Pacific), Latin America, Middle East and Africa (Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, Rest of LAMEA).